COVID-19 and your life insurance

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On 11 March 2020, the World Health Organisation (WHO) declared the coronavirus outbreak to be a global pandemic. Accordingly, the FSC has issued the followingstatementon behalf of all FSC Life Insurance Code of Practice (the Code) subscribers for death claims relating to coronavirus in Australia made under life insurance policies. All life insurance companies issuing policies in Australia subscribe to the Code. A list of Code subscribers can be foundhere.

Life insurance companies participating in this initiative agree to ensure that if people lose their job, are stood down or have reduced working hours due to COVID-19,until 27 September 2020, this will not affect their total and permanent disability (TPD) cover if they make a claim.

Life insurance companies will confirm their participation by making a public statement and announcement on their website, including details of how they will apply the initiative.

The life insurance industry plays a crucial role in times of crisis by supporting Australians in the event of death, illness and disability. In 2019 we, the life insurance industry, paid out more than $12 billion to around 100,000 Australians and their families. We are also a major employer, supporting thousands of families to maintain their incomes in these challenging times. The industry has committed to six core guiding principles.

This commitment on behalf of participating FSC life insurance member companies is to ensure that frontline healthcare workersare not prevented from obtaining life insurance cover purely through exposure, or potential exposure, to coronavirus. The initiative has interim approval by the ACCC.

Life insurance companies will confirm their participation by making a public statement and announcement on their website.

If you can’t work because of sickness, injury, disease, employment termination, or death, Consumer Credit Insurance (CCI) can help cover credit card, personal, motor vehicle or home loan repayments depending on the level of cover purchased. To find out more, visit the Insurance Council of Australia.

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If you require further information, please contact the FSC via This email address is being protected from spambots. You need JavaScript enabled to view it..